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330 | Top 10 FOMO Mistakes Investors Make!

By in Podcast

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FOMO (Fear Of Missing Out) is certainly here in this hot property market, folks! 

Let’s be real… the “Great Australian BBQ Topic” is officially on steroids right now — a combination of low interest rates, rising property prices and lack of supply in the market is seeing all sorts of people jump in on “the property party” they perceive everyone else is enjoying. 

So, we want to be direct with you… there are NO excuses to purchase property because of FOMO! The reality is you should NEVER make huge financial decisions on a whim or forget to “Look Before You Leap”. 

A hot market — like the one we’re currently experiencing — is the perfect storm for property buyers to make mistakes and land themselves in hot water by stretching themselves too far, act without thinking, fall into the “herd” mentality or disregard that FOMO is paradise for Spruikers!! 

As a follow on to our 3-part mini-series on how to win in a HOT property market, today we’re tackling the Top 10 FOMO mistakes property investors make… because we DON’T want to see you getting burnt out there or Realising Too Late that you fell into the trap of Irrational Exuberance!! 

So, strap yourselves in folks… ‘cos we’re about to give you some TOUGH LOVE! 

 

Free Stuff Mentioned… 

 

 

What’s Covered In The Episode….

  • 02:12 – How can you WIN our Start & Build online course?
  • 07:57 – How Bryce’s heckle to Ben ended in a property investment lesson… (LOL)
  • 09:57 – Mistake #1: You buy__ because you __ __ __ !
  • 10:30 – The Perfect Storm for FOMO…
  • 11:23 – A question to ask yourself to rein in FOMO…
  • 11:54 – “I went to buy a loaf of bread and came back with a property!” (yep… real life story!)
  • 14:02 – Why market movement doesn’t mean you should buy property…
  • 15:10 – “CBAD”!
  • 16:07 – Key FOMO difference for investors and owner-occupiers
  • 16:28 – Ben’s Two Controversial Tips for Owner-Occupiers!
  • 20:00 – Mistake # 2: You buy because you want to get __ __ !
  • 20:26 – Why is FOMO a paradise for Property Spruikers?
  • 22:10 – Beware of The Stock List!
  • 23:26 – Why we DON’T like the word “Rich”!
  • 24:15 – The Fundamental Principle to work out if YOU are the product!
  • 25:13 – Understanding the enemy…
  • 26:34 – How to identify “The Millionaire Next Door”
  • 27:17 – Mistake #3: You __ __ __
  • 31:16 – The 30,000-foot view…
  • 31:57 – The two most-common situations we model…
  • 33:51 – Mistake #4: You __ the wrong __!
  • 34:13 – Why you need to be cautious of “flipping” in a hot market…
  • 35:24 – Understanding investment-grade locations…
  • 36:00 – Why a character property could actually be the WRONG property for you…!
  • 37:09 – Mistake #5: You __ __ want to __ on __ !
  • 40:52 – Mistake #6: You __ without a __ __ __ __
  • 41:27 – Why can you borrow more as a rentvestor?
  • 42:20 – Considerations if you’re chasing higher-yielding properties
  • 44:02 – Mistake #7: You underestimate what it takes to __  __  a __ __
  • 44:47 – Mistake #8: You’re too __ or too __
  • 46:17 – Classic examples that lead to a poor-performing property
  • 48:27 – Mistake #9: Your __  is disconnected from __ __
  • 50:20 – Are you paying too much?
  • 53:50 – Mistake #10: You Buy __ Because You Think __ __ __ Changed!!

310 | Is Property Just A Ponzi Scheme?

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Have you ever questioned if property is as good as it’s cracked up to be? Like, is it really a sure-bet investment?

You’ve seen the headlines… You’ve heard us say certain properties should be in the “no go” zone for investors… And maybe you’ve even seen or heard about other property markets around the world that actually CRASHED – quite literally… some even plummeting in prices overnight.

So… What makes the Australian property market different? Is it guaranteed to NEVER fail? And how do we know “for sure” that your money is as “safe as houses”?!

Here’s the deal… a client of ours recently gave us some feedback after working with us. Feedback that, to be quite frank, made us stop in our tracks.

And we wanted to address that feedback today because, one, it raises a few valid points… and, two, we think this episode will help any of you folks out there who might have some reservations about the property market of your own… and/or you simply want to educate yourself more on the Australian property market, how it works and why investing in it isn’t going to end in tears in a few years down the track…

Suss the feedback we received below & Listen Now to hear our response!

 

The Feedback We Received…

A lot of millennials (including myself), are sceptical about property and put off investing because we read/consume a lot of stuff that is bearish on property. I would also say that I found it difficult to listen to the podcast because it is too ‘normie’ and doesn’t address/contend with a lot of the current zeitgeist outside the mainstream media that people consume nowadays (Zero hedge, Martin North, Real Vision, Jolly Swagman podcast, Nasim Taleb, Steve Keen, the case for crypto).

I put off investing in property for years because of this sort of content saying that property is a pyramid scheme for boomers and that valuations are only maintained due to central bank policy and credit availability. Instead of dismissing this stuff as conspiracy theories – actually take it on and come up with persuasive arguments against it instead of relying on me taking 5 years to find them myself.

  • admit that current immigration levels are unsustainable politically and can’t be a key driver of house prices
  • admit that the majority of growth in house prices is due to credit availability and decreasing interest rates
  • admit that there is nothing inherently different about Australia from say Ireland or Spain and their property crashes (other than maybe the ability to print our own currency). 
  • admit the risk of a Japanese lost decade and drop in consumption and birth rates caused by high levels of household debt.  

I would have felt way better going into this if I’d heard some strong arguments against this stuff. Having said all that – I want to invest in property because it’s a human need and it will never go to zero (wealth preservation). I remain sceptical of continued price growth (or at lease real price growth). However, I acknowledge that yes, the game is rigged for boomers but what choice do I have? Getting a bad return on real estate is better than doing nothing. If you want to get more (smart) millennials on board you need to address this stuff.

 

 

Free Stuff Mentioned

 

 

Welcome To Your Lifestyle Design: Your Passive Income Starts Here!

By in The Armchair Guide to Property Investing

Have you ever thought about how you can create a passive income through property investing?

Further to that… have you ever thought about the lifestyle you could design for yourself if you had $2,000 per week coming in… WITHOUT having to go to work for it?!

If that was the case, you could literally spend your time doing whatever it is you want – maybe it’s travel, maybe it’s philanthropy, maybe it’s each and everything in between!

Well, welcome to The Armchair Guide to Property Investing podcast…!

This show is for aspiring and existing property investors who want to learn how to build a multimillion-dollar property portfolio that creates $2,000 a week in passive income! Learn from Bryce Holdaway and Ben Kingsley, two of Australia’s leading property investment experts, the co-authors of the #1 bestselling book, The Armchair Guide to Property Investing and co-hosts of Australia’s #1 Property Podcast, The Property Couch – The Insider’s Guide to Property Finance and Money Management.

This show’s come together in a rather unique way (which Bryce is quickly going to tell you about now)… and, yep, it features the content, the “behind the scenes” summary and all of the best bits of our bestselling book – The Armchair Guide to Property investing: How to Retire on $2,000 a week. And, no, we don’t read it out word for word as that’s not as fun! 😉

If you want a FREE Physical Copy of The Armchair Guide, head to www.thearmchairguide.com.au for more details!

Enjoy the show… and, more importantly, enjoy your Lifestyle By Design!!

 

 

 

274 | Coronavirus Special: Keep calm and carry on!

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With the Coronavirus outbreak spreading across the globe and impacting the economy, it begs the question… Is buying property right now still a good idea?

Well, without giving away today’s episode, the message we want to put out there is this… Keep Calm and Carry On.

Because when wide-spread contagions like the Coronavirus break out, they snowball into something else that’s also highly contagious… irrational human behaviour. So, our intention with this special episode is to separate facts from fiction so we stay informed about what’s really going on here without exasperating the issue until we have a crisis of confidence on our hands.

While we’re 100% NOT health experts, we’ve taken some very useful snippets from a recent ABC’s 7.30pm program, so you can hear from those who are experts on infectious diseases. They will give you a clear look at the Coronavirus, explaining in detail how it’s spread, who’s most at risk, what you can do to protect yourself and – perhaps most importantly – give you a realistic look at the numbers.

We have a few tidbits to add on the property side, incl. the Coronavirus’s potential impact on property prices and who should be mindful of taking out a home loan during this time.

Basically, for the majority of folk, it will be this… go full steam ahead. Don’t stop what you’re doing. Don’t be irrational. Just keep calm and carry on…

(And for goodness sake, don’t hoard the toilet paper… it only exasperates the issue! 🧻🧻🧻 )

Psst… in case you’re wondering, we’re talking about our epic New Framework NEXT WEEK!!! (Today’s episode just couldn’t wait 😉)

 

Free Resources Mentioned

 

Last week’s Freebie

Yup, we’ve curated all the frameworks mentioned last week and threw in all the links to the episodes and videos! Just fill in the form below and we’ll email the list… and heaps more!

Free Resources: Top 5 Frameworks

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Key Learnings…

 

 

 

 

Free Report: Our Top 5 Frameworks for Property Investors

By in Free Resources

Over the past 5 years, we’ve shared quite a few frameworks….To be honest, we don’t know the exact number and are in the process of compiling all of them!

But in the meantime, we know which are the most important and crucial. So we’ve curated each of our Top 5 Frameworks for Property Investors, sketched them all out and include all the links where you can find them as well!

Just fill in the form below and we’ll email the report to you right away. 😉

Free Resources: Top 5 Frameworks

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P.S. This report is part of our 5-year anniversary episode. If you haven’t listened to it yet, we strongly recommend you check it out here!

P.P.S. And check out Bryce and Ben unpacking this report on Facebook LIVE today!

 

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